The National Bank of Moldova reviewed up the annual rate of inflation for this year. The new rate forecast is 8.15%, up from 5.8% projected in January. According to the Bank, this year the inflation will be the highest in the last seven years.

In a news conference, the governor of the National Bank Dorin Dragutanu said the main factors that influenced the rate of inflation were the depreciation of the national currency and the consequences of this depreciation, especially the increase in the prices of basic food and industrial products. In the second quarter of next year, the inflation is expected to return to the Bank’s target inflation of 5%, plus-minus 1.5%

According to the new forecast, the rate of inflation in 2016 will be 6.4%.

In 2014 the average rate of inflation was 5.1%